Rational AG

RATIONAL AG
Company typeAktiengesellschaft
FWB: RAA
IndustryManufacturing
Founded1973; 51 years ago (1973)
HeadquartersLandsberg am Lech, Germany
Key people
Peter Stadelmann (CEO)
Peter Wiedemann (CTO)
Jörg Walter (CFO)
Martin Hermann (CTO)
Markus Paschmann (CSO)
Walter Kurtz (Chairman of the Supervisory Board)
Siegfried Meister (founder)
ProductsCombi steamers
Revenue€ 779.9 million (2021)[1]
€ 158.9 million (2021)[1]
Total assets€ 783.8 million (2021)[1]
Total equity€ 603.3 million (2021)[1]
Number of employees
2,206 (2021)[1]
Websitewww.rational-online.com

Rational AG is a German manufacturer and retailer of commercial and industrial kitchen equipment for thermal food preparation. The company is based in Landsberg am Lech, Germany, and was founded by Siegfried Meister in 1973. It operates worldwide and has 25 subsidiaries in Europe, Asia, North and South America as well as seven branches in Germany.

History

The company was founded in 1973 by Siegfried Meister (* 1938, † 2017) with 18 employees as a company for the production and distribution of hot air appliances in Germany.[2] These quickly superseded conventional ovens that were used in the commercial sector before then. Initially, the company produced deep fryers and ovens. In 1976, Meister invented the Rational combi steamer for commercial kitchens and started its production.[3][4] From 1978 onwards, the company concentrated solely on combi steamers and discontinued all other product lines.[2]

From 1991, Rational expanded abroad and founded its first subsidiary in the United Kingdom. In 1992, the company took over the French partner Frima.[2] Since then, local sales companies have been established in multiple countries across the world.[5]

In 2000, "Rational GmbH" was converted to a stock corporation. Since March 3, 2000, the company has been listed in the Prime Standard of the Frankfurt Stock Exchange.[3][4][6]

In 2008, Rational opened its third plant in Landsberg.[7] On March 4, 2009, the company was promoted to the MDAX. As of September 22, 2014, Rational AG was listed in the SDAX. In 2012, Peter Stadelmann joined the company and took over the business from 2014.[2][8]

On August 11, 2016, Rational moved back up to the MDAX,[9] and on September 18, 2017, the stock again moved to the SDAX.[10] In 2018, Frima was renamed Rational and its VarioCookingCenter has since been marketed under the Rational brand.[11]

On September 23, 2019, Rational returned to the MDAX. In April 2022, the contract of CEO Peter Stadelmann was extended until November 2027.[12][13]

Company

Rational AG has 7 national and 25 international subsidiaries in Germany, Europe, Asia, North and South America. The company is active with an export share of 87 percent.[14]

Firma Rational AG
Firma Rational AG

In 2021, the company generated sales of €779.7 million and employed 2,206 people.[1]

EBIT (earnings before interest and taxes) amounted to 160 million euros in 2021. The EBIT margin was 20.5 percent.[12] The family of founder Meisters holds the majority of shares in the company, 55.2 percent, with 44.8 percent in public float (as of March 1, 2022).[2]

Products

Rational's products include the iCombi Pro and iCombi Classic combi steamers and the iVario Pro, which can replace a tipper, pan, kettle or fryer in the kitchen. The appliances can be connected and controlled via an online platform.[15] This allows, for example, for menu plans or recipe management to be controlled digitally.[4] The platform also contains cooking videos and a recipe library.[8]

Combi steamers account for about 90 percent of the company's appliance sales, while sales of the iVario line account for about ten percent. The combi steamers are produced and tested at the plant in Landsberg am Lech.[2]

References

  1. ^ a b c d e f "Rational AG". Northdata.
  2. ^ a b c d e f Lars-Thorben Niggehoff: Gedämpfte Erwartungen. In: Wirtschaftswoche, Sonderheft Die 500 heimlichen Weltmarktführer 2022. No. 1, p. 44., November 8, 2021.
  3. ^ a b Rational geht mit Dampf in den Smax ein. In: Handelsblatt, No. 038, p. 30., February 23, 2000.
  4. ^ a b c Die Sterne-Küchen. In: Focus Money, No. 5, p. 30., January 26, 2022.
  5. ^ High-Tech-Küchengeräte treiben den Kurs der Rational-Aktie. In: Handelsblatt, No. 129, p. 18., July 7, 2000.
  6. ^ Rational übertrifft die eigenen Umsatz- und Ertragsziele. In: Frankfurter Allgemeine Zeitung, No. 182, p. 23., August 8, 2000.
  7. ^ Astrid Dörner: Viele Experten empfehlen Rational. In: Handelsblatt, No. 5, p. 28., January 8, 2007.
  8. ^ a b Elisabeth Dostert: Die Küchenprofis. In: Süddeutsche Zeitung, p. 22., September 13, 2019.
  9. ^ "Deutsche Börse: Rational rückt für Kuka in den MDax". www.handelsblatt.com (in German). Retrieved 2022-12-20.
  10. ^ "Dax startet mit Schwung in die neue Woche", in: Nürnberger Nachrichten, p. 18, September 19, 2017.
  11. ^ Russell, James (2018-02-02). "FRIMA becomes RATIONAL: The professional kitchen specialists now under one umbrella brand". Hospitality & Catering News. Retrieved 2022-12-20.
  12. ^ a b Stefan Kroneck: Rational-Chef Stadelmann lässt nichts anbrennen. In: Börsen-Zeitung, No. 161, p. 12., August 23, 2022.
  13. ^ Rational verlängert Verträge mit Stadelmann und Wiedemann. In: Börsen-Zeitung. No. 75, p. 12., April 20, 2022.
  14. ^ Hidden Champions aus Deutschland sind weltweit Spitze in ihrer Nische – und können euer Depot diversifizieren. In: Business . Dezcember 6, 2021.
  15. ^ Redaktion, GASTRO (2017-04-11). "Digitale Vernetzung für Küchengeräte Gastronomie". GASTRO (in German). Retrieved 2022-12-20.